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Missouri 2018 Personal and Per Capita Income

In 2018, Missouri’s personal income was $285.7 billion, a 3.9 percent increase from the 2017 personal income, according to data from the U.S. Bureau of Economic Analysis (BEA). The nation’s personal income rose 4.5 percent annually to over $17.5 trillion.

Personal income is defined as the income received by all persons from net earnings, property interest income, and transfer payments. Personal income is measured before the deduction of taxes. Income figures represent nominal dollars for this analysis, not adjusted for inflation. The reason that nominal dollars are used, and not inflation adjusted dollars, is due to the two-year lag in the release of inflation-adjusted income data from the BEA.

California led the nation in total personal income with more than $2.4 trillion. Texas, New York, Florida, and Illinois round out the top five; Missouri ranked 22nd in total state personal income.

2018 Personal Income
(in thousands of dollars)

Rank

Area

Personal Income

Rank

Area

Personal Income

United States

$17,572,929

13

Michigan

$475,626

1

California

$2,475,728

14

Washington

$458,017

2

Texas

$1,411,021

15

Maryland

$380,172

3

New York

$1,341,915

16

Colorado

$323,767

4

Florida

$1,052,550

17

Tennessee

$319,401

5

Illinois

$725,394

18

Minnesota

$316,327

6

Pennsylvania

$708,862

19

Arizona

$313,040

7

New Jersey

$602,297

20

Indiana

$312,151

8

Ohio

$563,926

21

Wisconsin

$295,073

9

Virginia

$485,098

22

Missouri

$285,704

10

Massachusetts

$483,657

23

Connecticut

$266,382

11

Georgia

$481,213

24

South Carolina

$217,276

12

North Carolina

$475,927

25

Louisiana

$212,223

Wages & Salaries accounted for 61 percent of Missouri personal income in 2018. Transfer Payment accounted for 19 percent and Dividends, Interest & Rent accounted for 20 percent. The percentage breakdown of personal income has been consistent since the end of the last recession in 2009. The U.S. had 63 percent of personal income accounted for by Wages & Salaries, 20 percent by Transfer Payments and 17 percent by Dividends, Interest & Rent.

Per Capita Personal Income

Per capita income is defined as total personal income divided by total population. Per capita income in Missouri was $46,635 in 2018, up from $45,014 in 2017.

The District of Columbia led the nation in per capita income at $81,882, followed by Connecticut, Massachusetts, New York, and New Jersey; Missouri ranked 37th in the U.S for per capita income.

Per Capita Income 2018

Area

Dollars

Area

Dollars

United States

$53,712

Oregon

$49,908

District of Columbia

$81,882

Florida

$49,417

Connecticut

$74,561

Texas

$49,161

Massachusetts

$70,073

Iowa

$48,823

New York

$68,667

Ohio

$48,242

New Jersey

$67,609

Maine

$48,241

Maryland

$62,914

Nevada

$48,225

California

$62,586

Michigan

$47,582

New Hampshire

$61,405

Tennessee

$47,179

Washington

$60,781

Montana

$47,120

Wyoming

$60,095

Indiana

$46,646

Alaska

$59,687

Missouri

$46,635

Virginia

$56,952

Oklahoma

$46,128

Illinois

$56,933

North Carolina

$45,834

Colorado

$56,846

Georgia

$45,745

Minnesota

$56,374

Louisiana

$45,542

Pennsylvania

$55,349

Utah

$45,340

Hawaii

$54,565

Arizona

$43,650

Rhode Island

$54,523

Idaho

$43,155

North Dakota

$54,306

South Carolina

$42,736

Vermont

$53,598

Arkansas

$42,566

Nebraska

$52,110

Alabama

$42,334

Delaware

$51,449

Kentucky

$41,779

Wisconsin

$50,756

New Mexico

$41,198

Kansas

$50,155

West Virginia

$40,578

South Dakota

$50,141

Mississippi

$37,994

Missouri’s per capita income annual growth rate of 3.6 percent was only .2 percentage points lower than the national average of 3.8 percent from 2017 to 2018. West Virginia had the highest per capita income annual growth at 5.5 percent. States that also had relatively high levels of per capita income growth in 2018 included Washington (5.3 percent), New York (5.0 percent), Illinois (4.9 percent), and Wyoming (4.7 percent). Per capita income is presented in nominal dollars for this analysis, which means it has not been adjusted for inflation.

Missouri’s per capita income growth generally tracks with that of the nation. Missouri continues to show an annual growth rate increase, 2018 marks the second year of growth. Since 2016, Missouri’s per capita income has climbed nearly 2 percentage points overall.

Source: Bureau of Economic Analysis
Note-- All dollar estimates are in current dollars (not adjusted for inflation).